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a little the taxes they are talking bout. no one likes to pay more taxes, but the effect on the market, the things that are being proped woulde overstated. i don't think a downgrading by the credit agencies is factored into pple's thinking. so that part of it, if they do something that makes the credit agencies, all of them in unison downgrade as to something elow think about this, that is not a good thing. that disturbs the markets. lou: so and other smart people watched, the speaker off fumbled through his rhetoric to say how tough he is and how resolute the white hose will be in all of this. the reaction is in the markets, if it goes another couple of weeks. >> people are saying we are all idiots. people who don't have anything to do with washington and we have to live in places where we are the safest. the debt market or the equities market, particularly the equities market. china, germany, the u.s. they can survive these crazy politicians. lou: tell important. what do you think we can expect? >> far less significance tha
a little the taxes they are talking bout. no one likes to pay more taxes, but the effect on the market, the things that are being proped woulde overstated. i don't think a downgrading by the credit agencies is factored into pple's thinking. so that part of it, if they do something that makes the credit agencies, all of them in unison downgrade as to something elow think about this, that is not a good thing. that disturbs the markets. lou: so and other smart people watched, the speaker off...
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the bush tax cut for everybody. each has a bill and same argument. i don't imagine the president has upper hand in that. >> bret: next up, president george w. bush on immigration reform. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >>> immigrants come with new skills and new ideas. they fill a critical gap in the labor market. they work hard for a chance for a better life. america can be a lawful society. and a welcoming society at the same time. >> bret: former president george w. bush talking about the importance for republicans to embrace immigration reform. it's a theme many republicans are talking about, including incoming senator ted cruz who talked about it this week in d.c. >> i think republicans need to remain a party that supports securing the border and stopping illegal immigration. at the same time, welcomes and celebrates
the bush tax cut for everybody. each has a bill and same argument. i don't imagine the president has upper hand in that. >> bret: next up, president george w. bush on immigration reform. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >>> immigrants come with new skills...
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Dec 7, 2012
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not the marginal tax rights of individuals. that's my view. >> cenk: then you go to the defense industry, we've got one of their c.e.o.'s: >> cenk: don't get too excited the defense contractors are on our side. here's the reality. if we don't do a deal, we take $600 billion in defense cuts. that usually comes from the defense contractors. so they're like what! cuts in defense! no no, no, let's make a deal. we can raise them up a couple of points, that's all right. just don't take $7 billion from me. there's self interest there. there's tremendous moment to make this happen, unless you're looking at republicans. and we have got a treat for you today. we're going to do a little hot tub time machine action here. go back to 1993 when president clinton said that he was going to raise the marginal tax rates. here was those same old republicans, making the same old points 19 years ago. >> we have a solid plan ready to go to reduce the deficit calling for no tax increases and true cuts in government spending. >> as opposed to the clint
not the marginal tax rights of individuals. that's my view. >> cenk: then you go to the defense industry, we've got one of their c.e.o.'s: >> cenk: don't get too excited the defense contractors are on our side. here's the reality. if we don't do a deal, we take $600 billion in defense cuts. that usually comes from the defense contractors. so they're like what! cuts in defense! no no, no, let's make a deal. we can raise them up a couple of points, that's all right. just don't take $7...
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Dec 6, 2012
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host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the rate is 25% when you retire. that is higher than the current cap gains tax rate. it does not apply to 401(k)'s or any other income tax deferred instrument. when you take them out, you pay taxes on them. guest: that is correct. you pay income tax and presumably when you retire, you are at a lower tax rate and that is the
host: the estate tax or the capital gains tax? guest: the estate tax. host: if it's an asset, you pay capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller:...
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increase tax top tax and he was bent over the way he was wrong which. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars to quit taking money out but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how they've always corazon republicans want to lower the rates that so you can't sell deductions of the rates are low the reality though is that during that period of time when the top tax rate topping them tax rate was ninety one seventy four percent from from nine hundred thirty the five hundred thirty three nine hundred thirty three to just an ok and no until until the eisenhower here in the regular mr ok during that period of time you had you had c.e.o.'s who were not living in mansions they were you know and only one private well you had some people who were havin
increase tax top tax and he was bent over the way he was wrong which. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars to quit taking money out but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how...
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the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big issues when they're not. the fact that the rate would go from 35 to 39.6, it used to be in the 90s and 70s and 60s, and capital gains will be taxed at below the rate of ordinary income. we're dealing with the most minimal of shifts and changes yet we're being sucked into the notion that this is dramatic. it's not. >> you divided the republicans in three separate camps. i would say that the difference between the theological theocrats and the tee tea party is minimal. to a certain extent the policies that plays out with the theocrats is economics. four republicans have become identity politics. they
the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big...
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some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a short recession and at the end of the recession the economy will go sky high and people well railize that big government is good soup. they believe that use, you have a twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, char
some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a...
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some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a short recession and at the end of the recession the economy will go sky high and people well railize that big government is good soup. they believe that use, you have a >> we knew that those with ties to al qaeda were involved in the attack on the embassy issue and clearly the information given to the american people was wrong. and in fact ambassador rice said today it was wrong. >> we are significantly troubled by the answers we got and we didn't get, certainly overwhelming evidence. >> he is a member of the senate foreign relations committee which would consider the confirmation of ambassad
some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a...
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low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and getting the fight over with and a conference that won't allow it. i think what senator demint is saying and house republicans are saying to john boehner is, let's go over the cliff. that we can live with the sequester and we absolutely will not raise tax rates no matter what. what that does is eliminate all of the tax cuts and then there's a new fight in january to push obviously by the democrats to restore tax cuts for 98% of americans. and then that will be muddied by the need for a debt ceiling increase and the fight goes in to f
low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and...
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on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did which competed against other bids across the uk. he's also right to say that we are helping the northern islands energy sector with decisions on the carbon price which i detest a semi-statement to announce but are in the book. am glad he acknowledges those. any more broadly what i would say to him is northern ireland will benefit, the rest of uk will benefit when we help people and work hard and want to get on with doing that with personal allowance, when we help people who are small businesses with fuel duty, we're doing all these things making sure they are outlined to the northern ireland's. >> with i
on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did...
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they might also consider eliminating tax deductions on high income earners. a third powerful storm hitting northern california and the pacific northwest in less than a week. wicked weather causing flooding with rain falling at the rate of an inch per hour at times. 100,000 people at this point have lost power and people say the damage was not as bad as they thought it would be. more rain expected. i'm harris falkner, now, let's get you back to huckabee. ♪ >> when he i was white house press secretary, afaced a roomful of reporters on a daily basis so i'm used to getting tough questions, been a while since you've been grilled on stage, but since i'm guest hosting for governor huckabee in front of a studio audience and i can't play a bass guitar, i can take questions from the audience and the only thing that seems to be missing is helen thomas who use today sit in the front row and she and i were good friends, believe it or not. [applause] >> hit me with your best shot, what you got? who is first. >> i'm richard from dallas, an easy one for you, you're such an
they might also consider eliminating tax deductions on high income earners. a third powerful storm hitting northern california and the pacific northwest in less than a week. wicked weather causing flooding with rain falling at the rate of an inch per hour at times. 100,000 people at this point have lost power and people say the damage was not as bad as they thought it would be. more rain expected. i'm harris falkner, now, let's get you back to huckabee. ♪ >> when he i was white house...
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Nov 29, 2012
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it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense to crazy tea party, he was outraged by his suggestion. >> you're not going to grow the economy if you raise tax rates on the top two rates. we're willing to put revenue on the table as long as we're not raising rates. >> but that didn't stop congressman cole from going on hardball today continuing to sell the idea of making peace with the president for the sake of 98% of american taxpayers. >> if the president's willing to accept 80% of the bush tax cuts for 98% of the american people and make them permanent, i think that is a point we should agree op. >> tom cole also made it clear he is still a boehn
it's not like folks who make more than 250 aren't getting a tax break, they've getting a tax break on the first 250, just like everybody else. >> congressman cole first said this in a closed door meeting with republicans yesterday. he said basically exactly what president obama just said and he then expanded on his comments instead of denying them or refusing to comment at all, which he could have done. house speaker john boehner, who needs other loyal republicans to start talking sense...
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taxes and spending. what is an agreement that both sides can say yes, we each gave a little? >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use uf -- and that means health care for seniors and poor people and special needs kids. that is not an easy thing to ask anybody to do, let alone the democratic party. which really created these programs. this is going to be awful and gruesome, but 70 for 60 in your poll, 60% of americans want to raise taxes on well off americans. 70% don't want to cut or 80, don't want to cut medicare or medicaid, so the hard stuff is coming. this is the easy stuff. >> we're out of time, guys. nice to talk to you. i appreciate it. >>> next, violent clashes along the turkey, syria border and a new heir to the british throne is on the way. our piers morgan wi
taxes and spending. what is an agreement that both sides can say yes, we each gave a little? >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use uf -- and that means health care for seniors and poor people and special needs kids. that is not an easy thing to ask...
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some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a short recession and at the end of the recession the economy will go sky high and people well railize that big government is good soup. they believe that use, you have a is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearlyndestructible laptops, and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most better. just another way we're engineering a better world for you. >> we knew that those w
some republicans dessert the new new taxes pledge if that's the only way to make a deal? >> they should not dessert the no new tacks pledge. and hurt the end game for democrats is to have the fiscal clive. it's not something i'm reading tea leaves on. take a look at a new yorker article in the middle of this year by ryan liza. he spoke to a number of obama people and they said unless republicans break the no-tax pledge they want to go into a fiscal cliff. they believe there will be a...
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nobody gets tax relief. we republicans will hang out right for that 2%. >> let's talk about the president's position on this. times done changed is perhaps an understatement. my paraphrase of your words. the president in a "new york times" piece today calls attention to the way the president was talking about putting revenue on the table in 2011 versus 2012. he was talking about ending deductions and closing loopholes as a primary way to get revenue on the table which is a different position than he has now. play that sound for everybody so they can remember. sorry. it's a full screen. i will read the quotation. what we said was give us $1.2 trillion in additional revenues which could be accomplished without hiking tax rates but simply accomplished by eliminating loopholes, some deductions and engaging in a tax reform process to lower rates generally while broadening the base. that is different from where the president is at now. is there currency to the republican argument that the president has moved the g
nobody gets tax relief. we republicans will hang out right for that 2%. >> let's talk about the president's position on this. times done changed is perhaps an understatement. my paraphrase of your words. the president in a "new york times" piece today calls attention to the way the president was talking about putting revenue on the table in 2011 versus 2012. he was talking about ending deductions and closing loopholes as a primary way to get revenue on the table which is a...
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the president's idea is raising taxes on income over a quarter million dollars but keeping the bush tax cuts for everybody else. that idea is very popular. 60% support. it is a very popular plan that the president is trying to drum up even more support for now with these campaign style trips. now, on the other side, what the republicans want to do, their plan is to limit deductions, limit tax deductions. that's their plan instead. that, in contrast to the president's proposal, is not popular. more people oppose that idea than support that idea. even republicans hate the republican idea. look at 39% of republicans support the republican proposal. that's before you get to the other part of the republican proposal, something being floated by republican senator bob corker of tennessee, an idea we should raise the eligibility age for medicare. that is a wildly unpopular idea. more people oppose than support that idea by a 37% margin. it is more unpopular among republicans than the general public. republicans have not convinced their own voters let alone the rest of the country. they have not
the president's idea is raising taxes on income over a quarter million dollars but keeping the bush tax cuts for everybody else. that idea is very popular. 60% support. it is a very popular plan that the president is trying to drum up even more support for now with these campaign style trips. now, on the other side, what the republicans want to do, their plan is to limit deductions, limit tax deductions. that's their plan instead. that, in contrast to the president's proposal, is not popular....
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only on the top income tax brackets. another senior republican lawmaker who asked not to be identified this time told reuters that the democratic bill could pass in the house of representatives if john boehner would allow such a bill to be brought to the house floor for a vote. here is boehner speaking about the president earlier today. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> speaker boehner doesn't want to propose spending cuts, so now he's trying to pressure the white house to do it. >> there's been no serious discussion of spending cuts so far. and unless there is, there's a real danger of going off the fiscal cliff. >> a reporter asked senate majority leader harry reid about speaker boehner's comments. >> he says that democrats have got to get serious about cuts, spending cuts. where is the disconnect then? >> i don't understand his brain, so y
only on the top income tax brackets. another senior republican lawmaker who asked not to be identified this time told reuters that the democratic bill could pass in the house of representatives if john boehner would allow such a bill to be brought to the house floor for a vote. here is boehner speaking about the president earlier today. >> members of his own party seem quite comfortable with sending the economy over the fiscal cliff. no substantive progress has been made in the talks...
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we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment reform. but if we solve the tax problem for 98 ps% of the american people, continue to fight for the other 2%, to not raise rates, that seems to me we move closer it toward that spending and entitlement debate and i think that's something that the president and the democrats in general are trying to avoid. >> senator, tom coburn was on "morning joe" alongside you today and he has -- he's willing to make a deal that does involve the higher rates for the wealthy. why not go there? the president has made it clear it just is not enough money
we don't think their taxes should go up. to me since that's a point of agreement and doesn't affect either side's negotiating position on the other issues we ought to remove it from the table. make sure most americans don't have to worry about their taxes going up. having said that, again, i think the speaker's right on in terms of the proposal he's put out there. most importantly, he couples it with something the president doesn't, which is really significant spending cuts and entitlepment...
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he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near
he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans....
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the most supply side oriented tax of all is the tax on risk and wealth, namely capital gains tax, risk wealth high risk stock investment. every time the capital gains tax rate is cut, revenues soar as they did under bill clinton. in fact, president obama was asked this in a tv interview during the campaign and he said i know that's what the numbers show but i still want to raise the top rates. if ever there's a supply side tax rates where lower rates produce higher rates it's capital gains. >> that's right. people start taking gains and hold on to what they have. that means capital is not put to work. in the early 1990s the economy was starting to get a real head of steam. not enough to save george h.w. bush but that slowed in '93 and '94. when republicans came in, cut spending, killed hilary care and alan greenspan had a sensible monetary policy, the economy started to recover and then clinton got the religion, he cut capital gains. >> steve is giving your man all these kudos and you're not taking them. >> two things first, larry, didn't president reagan raise the capital gains tax ra
the most supply side oriented tax of all is the tax on risk and wealth, namely capital gains tax, risk wealth high risk stock investment. every time the capital gains tax rate is cut, revenues soar as they did under bill clinton. in fact, president obama was asked this in a tv interview during the campaign and he said i know that's what the numbers show but i still want to raise the top rates. if ever there's a supply side tax rates where lower rates produce higher rates it's capital gains....
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let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"? he voiced over that. he lives in france. bill: new concerns the u.s. is running out of doctors at a time when obama-care will put millions of americans into the system. our fox news medical a-team doctor on what needs to happen there. martha: they were trapped under a car struggling to breathe and split second heroics saved theof lives of her mother and child. of pepto-bismol to-go. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tour
let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"?...
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Dec 6, 2012
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our tax revenues are down. historically they have been about 18 to 19% of the gross domestic product. part of that is the recession, but significant loss of revenue is because of the bush tax policies, and it was based on this idealogical fiction if you lower taxes it will increase revenues. and their focus was lowering taxes at the high end. we had higher tax rates under clinton, and we created 40 million jobs and had a surplus. then the bush folks came in put the war on the credit card prescription drugs on the credit card, and lowered taxes at the high end, and we had only 700,000 jobs, and had astonishing deficits since then. >> stephanie: the same l.a. times piece even makes that case with the war in afghanistan winding down, the military is asking for less than congress wants to give. so i think there has been so much hysteria over this fiscal cliff that i'm not sure it's warranted. >> that's exactly right. and also the ryan budget you know, their doctrine -- and it really is doctrining. lower taxes for t
our tax revenues are down. historically they have been about 18 to 19% of the gross domestic product. part of that is the recession, but significant loss of revenue is because of the bush tax policies, and it was based on this idealogical fiction if you lower taxes it will increase revenues. and their focus was lowering taxes at the high end. we had higher tax rates under clinton, and we created 40 million jobs and had a surplus. then the bush folks came in put the war on the credit card...
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Nov 30, 2012
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this is not acceptable, to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. right? that doesn't make sense. megyn: but some house republicans are describing the latest offer from the white house as absurd. they say the president ran on a platform to raise rates on top earners. that would amount to about $800 billion in new tax revenue they say he's now asking for double that amount, close to $1.6 trillion in new taxes. republicans also argue he calls for a balanced approach but asking for about four times as much in tax hikes as there are in possible spending cuts, all of which on the spending cut front would come later: possible spending cuts, all of which on the spending confront will come later. he also wants to permanently do away with the congress approves debt limit, effectively giving himself a blank check to add as much the sequence to a national debt that already stands at $16 trillion. moments ago, speaker of the house speaker boehner saying that the democrats plan is not going to fly. >> the white house took three we
this is not acceptable, to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. right? that doesn't make sense. megyn: but some house republicans are describing the latest offer from the white house as absurd. they say the president ran on a platform to raise rates on top earners. that would amount to about $800 billion in new tax revenue they say he's now asking for double that amount, close to $1.6 trillion in new taxes. republicans also...
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Dec 7, 2012
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and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six minutes after the hour. right back own the "stephanie miller show." >> on the stephanie miller radio show in suburban america this morning -- >> announcer: it's the "stephanie miller show." ♪ [ boy 1 ] hey! that's the last crescent. oh, did you want it? (vo) when the clock runs out when the last card is played i want the people who watch our show, to be able to come away armed with the facts, and the arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just i
and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six...
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Nov 29, 2012
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tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of sitting down with john boehner, running around pushing for a bill to increase -- extend just the middle class tax cuts which he knows republicans will never do. you can see it in the fact that 33 senate democrats signed this letter which says, quote, we will oppose including social security cuts for current or future pen fisheries in any -- beneficiaries at any time. that's signed by harry reid. senator durbin giving a speech saying no touching medicare or medicaid in any year end package. so, basically, the democratic positio
tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of...
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Dec 3, 2012
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there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to get them and not focused on spending cuts. is that because the republicans and the president agree the middle class needs those tax cuts and should get them. the only thing they disagree on is whether the rich should also have tax cuts given to them. the left is say we agreet middle class should get the tax cuts. so let's give them to them. >> you are comment is largely right. the republicans have gone along in a bipartisan manner with the idea there has to be revenue. the speaker has put forward a framework in which he agrees there should be $800 billion of revenue on the table. the proble
there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to...
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we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely different story. this is a political and ideological argument and we'll see who wins. martha: there is a couple ways this could go. one is to land in the middle. you have $800 billion and $1.6 trillion. the other is for one side to say no deal. we'll let you go over the fiscal cliff and we'll see what happens. >> reporter: at the last minute i think there will be a deal. i think republicans will retreat and say okay, you can have higher tax rates but only on people making a half million dollars a year. the president will say, okay, but we'll only discuss -- we'l
we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely...
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Dec 4, 2012
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let's make the income tax, the corporate tax, the capital gains tax, the gift tax, the estate tax, let's just make them all 15% across the board. i'll never have a problem with estate tax. but it is outrageous to make people sell their family farm or sell a business or get in hoc up to their ears for something their parents have worked a lifetime to build up. and people like warren buffett, the ultrarich, they're not going to have to worry about the estate tax because they're able to pay megabucks for lawyers and brilliant financial analysts to come up with a way, usually involving life insurance and different things, they'll take care of their estate tax. so it's not the megarich. and the same way, when people say, we're going after the rich fat cats, england did that in 2009. an article last week pointed out, 2009, england increased to 50%, in addition to all the other taxes they have, 50% the tax against people making $1 -- a million pounds or more and that next year england went from having 16,000 people who were making a million pounds or more a year to 6,000. they dropped from 16,0
let's make the income tax, the corporate tax, the capital gains tax, the gift tax, the estate tax, let's just make them all 15% across the board. i'll never have a problem with estate tax. but it is outrageous to make people sell their family farm or sell a business or get in hoc up to their ears for something their parents have worked a lifetime to build up. and people like warren buffett, the ultrarich, they're not going to have to worry about the estate tax because they're able to pay...
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Dec 7, 2012
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and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree, it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six minutes after the hour. right back own the "stephanie miller show." >> on the stephanie miller radio show in suburban america this morning -- >> announcer: it's the "stephanie miller show." ♪ [ boy 1 ] hey! that's the last crescent. oh, did you want it? (vo) when the clock runs out when the last card is played what will be remembered? explore the lives of the famous and infamous who changed our world forever. experience the drama, back to back to back. of all the hours in all their days, the ones you'll never forget are the final 24. don't miss the final 24 mini-marathon this sunday on current tv. save the best for last. [ boy 1 ] hey! t
and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree, it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six...
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not the tax rates. cut the spending, not the -- >> gretchen: it's kind of like that duh sound on the simpson show. people know this. people know this is what it's going to come down to yet it's this posturing. now headlines, chaos in cairo. president morsi returning to his palace overnight. he took off amid violent protests between police and protests, 100,000. they're outraged over morsi expanding his powers. hello, you elected him -- but the muslim brotherhood calling for its own protests over alleged abuses by the opposition. several tv stations in egypt going back to protest the constitution drafted by islamists. >>> new chilling surveillance video showing the moment when a barista came face-to-face with her killer. you can see 18-year-old samantha make the coffee and then raise her hands as if she's being held up. he makes her turn off the lights and climb through a window before tying her hands behind her back, chilling. the f.b.i. says he then sexually assaulted and he killed her. he's confessed
not the tax rates. cut the spending, not the -- >> gretchen: it's kind of like that duh sound on the simpson show. people know this. people know this is what it's going to come down to yet it's this posturing. now headlines, chaos in cairo. president morsi returning to his palace overnight. he took off amid violent protests between police and protests, 100,000. they're outraged over morsi expanding his powers. hello, you elected him -- but the muslim brotherhood calling for its own...
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the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the republic math does not add up. >> that's right, shep. he met with the nation's governors today. he said behind closed doors that there is a lot at stake not just for the national economy but state by state. some of their budgets could take a major hit if, in fact, the nation goes off the so-called fiscal cliff. his spokesman jay carney was even tougher in going after speaker john boehner's latest proposal in saying it simply doesn't add up. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> the bottom line is the president and speaker boehner have not spoken now in several days. so there is really no signs of progress. there has been some discu
the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the republic math does not add up. >> that's right, shep. he met with the nation's governors today. he said behind closed doors that there is a lot at...
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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host: the estate tax or the capital gains tax? guest: the estate tax. asset, you payn capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick question about the comments of the 401(k). i used to work for a cpa firm. i understand they are income tax deferred instruments. when you take it out, the tax you pay is income tax. the assumption is the rate would be lower. let's say the rate is 25% when you retire. that is higher than the current cap gains tax rate. ordoes not apply to 401(k)'s any other income tax deferred instrument. when you take them out, you pay taxes on them. guest: that is correct. you pay income tax and presumably when you retire, you are at a lower tax rate and that is the advantage. it is a s
host: the estate tax or the capital gains tax? guest: the estate tax. asset, you payn capital gains. guest: right. host: we have this comment on twitter from james. guest: corporations would say the businesses are already being taxed. folk should not be taxed for investing in their business. host: double taxation. guest: that is the argument. when people die, they are being taxed again. that is the essence of the argument against the estate tax. host: can you start over? caller: a quick...
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tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr
tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the...
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Dec 3, 2012
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tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign? bill clinton! kind of weird. >> good president. >> stephanie: mary in pennsylvania. hi mary. >> caller: hi, there. i love your show. didn't start watching it until late in the campaign. and i feel like i found a wonderful friend. >> stephanie: aww. >> caller: my question is grover cleveland -- >> stephanie: his ideas are just as fresh. [ laughter ] >> caller: exactly. if he think the average career only lasts 25 years has he signed up all of those people to the pledge 20 years ago shouldn't we be getting ready to throw him a retirement party pretty soon? >> stephanie: yeah, one wou
tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign?...
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he put on more taxes. he doubled the new taxes and, tax increases. and then he put more spending on the table and new stimulus. that is heading us in the wrong direction. jenna: i'm getting a lightning bolt wires comes into our newsroom when news crosses. apparently the president speaking to bloomberg television moments ago, getting parts of this interview says speaker boehner's proposal on the fiscal cliff is still out of balance. that is a quote the president has given about the letter and the proposal that you sent to capitol hill. realistically, when do you need to get a deal done to avoid the country from going off the fiscal cliff? know there is limited days. >> yes. jenna: when does an actual deal have to be done so it gets through those logistical processes we know need to be done in both the house and the senate? >> the sooner we can get a deal the better. speaker boehner, as i said, he, the day after the election, said, okay, we'll put tax revenue on the table. let's start the negotiations. you know this can be done. president reagan and ti
he put on more taxes. he doubled the new taxes and, tax increases. and then he put more spending on the table and new stimulus. that is heading us in the wrong direction. jenna: i'm getting a lightning bolt wires comes into our newsroom when news crosses. apparently the president speaking to bloomberg television moments ago, getting parts of this interview says speaker boehner's proposal on the fiscal cliff is still out of balance. that is a quote the president has given about the letter and...
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of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very question. he said, look, i'm here. i'm going to be here. i'm going to be waiting for the president to respond. certainly there is some concern, but as one republican told our deirdre washington a short while ago, look, it is what it is. it is the reality. the reality is there is a lot of waiting going on. on both sides, but particularly right now when it comes to republicans. one of the sort of subplots we've been talking about here, suzanne, you and i talk abouted it about it yesterday is the conservative backlash missed the republican party against the speaker for this counter
of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very...
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the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98% of families and 97% of small businesses from painful tax increases by asking the top 2% to pay a little bit more. the republicans' plan, on the other hand, is more of the same. not only does 2 balance the budget on the backs of the middle class, it voids our promise to seniors with steep cuts to social security and medicare, all to pay for even more handouts to the rich. at least we now know where they stand. republicans have sought to cover by invok invoking erskine bowle' name. he has disavowed their plan. we're glad to see the republicans join in the negotiating process. while their proposal
the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98%...
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give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that middle class -- i'm a teacher my wife and i -- that they're thinking about what happens if that tax bill changes on january 1st and they're making decisions about their spending right now. that's reality. the one thing i agree with republicans on in the 2010 elections was that the economy needed certainty. the thing that frustrates me is it is creating more uncertainty by them not signing on to this and passing it. >> stephanie: absolutely. what i was saying last hour, representative, the thing we're not falling for is some of
give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that...
SFGTV2: San Francisco Government Television
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we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here from oakland cut -- oakland, i saw those cars in the ordinary lanes. one person per car. you have this one person with all this steel and plastic and oil. it is ridiculous. we're figuring out ways to do that. whether it is high speed rail or electric cars. the first will be rolling off the factory in treatments in the next few months -- in three months and in the next few months. yes, the innovative companies are small. the electric cars -- the tanks are small but so is fairchild or in tal or hewlett-packard -- intel or hewlett-packard or steve jobs. the seats we plan
we can talk about regulation and pension and taxes and the government. a lot of that is [inaudible] a survey said housing prices are too high and that is a negative factor on recruitment. i thought, maybe we can bring the prices down. foreclosure works magic. i do not think you want that. you want rising wealth which could translate into a rising houses -- housing prices. you can increase density and breakdown similar rules, you get more people. there's a lot of things. as i drove down here...
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tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay. >> senator claire mccaskill coming up next, joins us in washington. also cokie roberts. first to bill karins in new york. he has a check on the forecast. bill? >>> good morning to you, joe. we can say good-bye to those late summer/early fall like temperatures. the cold front is heading through neng neck and soon areas of the mid-atlantic. temperatures have fallen a little bit. watching chicago, much colder right now this hour than yesterday at this time at 27. so the midwest has returned to normal. the east coast, blustery weather will arrive during the aft afternoon. on that cold front we've had a li
tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay....
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Dec 4, 2012
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tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated to 1.4%. incomes are flat and hurricane sandy shut down the northeast for days and in some cases for weeks. even though we have had positive numbers from companies like home dep depot, the group would be flat lining. yet that hasn't been happening. it is shown by the rth, the market vectovector's retail num. it has been showing very well. that is why tonight we are going off the charts with the help of ed ponzi. my colleague at realmoney.com, we have to learn what the charts are seeing. if you remember, one of the reasons why i went back to ed. he is the guy who nailed it and
tax rates go up. >> boo. >> the payroll tax holiday goes away. unemployment benefits expire for most people and that is not even accounting for the layoffs. put it together, unless we get a deal, which won't be bad news for the single biggest consumer out there, retail. >> you would expect the whole retail cohort to be in trouble. things will get a whole lot worse. two weeks ago we got retail sales that showed a 3% decline. last friday's gdp indicated that it had decelerated...